STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Ohio on behalf of purchasers of EveryWare Global, Inc. ("EveryWare" or the "Company") (NASDAQ: EVRY) securities between June 18, 2013 and May 16, 2014, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until December 8, 2014 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in EveryWare securities purchased on or after June 18, 2013 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that the Company’s mature business segments and recurring revenue model was growing and would accelerate significantly in the second half of 2013 through 2014, that the Company’s cash flows were insufficient to meet the Company’s liquidity needs, and that the Company was in compliance with its debt covenants, and that its debt was being actively managed and would be reduced significantly. According to the complaint, following the Company’s May 15, 2014 announcement of a net loss for the first quarter of 2014, that it was in default on its debt covenants, that it was temporarily closing two of its factories and furloughing workers in order to conserve cash and reduce inventory, and that the Company’s cash flows from operating activities with the credit facility would not be expected to fund operations in the near future, the value of EveryWare shares declined significantly.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.